Comments:Jan 2007: More than 1,000 staff at precision
engineer Renishaw will lose their generous retirement benefits. The
company, valued at £600m, is closing its final salary scheme to new and
existing members to address a widening £41m pension deficit.

Name: Rentokil

Location:

Employees/Deferred/pensioners
3000

Windup: Proposed
Dec 2005 Company still solvent

Fund:

Comments:
Rentokil's 8,000 pensioners and 15,000 former workers with deferred pensions will not be affected.
Rentokil proposed the move to tackle a pension deficit of some £349m. Final
salary pension scheme closed to all 3,000 existing members, injecting £200m

Name: Reynolds
Boughton Engineering Group

Location:Amersham,
Buckinghamshire

Employees/Deferred/pensioners
Number of people employed up to 250 at the Amersham site but
more at other sites

Windup:Company
folded in November 1999 Pension scheme wound up 2002/2003

Fund:

Comments:

Name: RFK
Group

Location:

Employees/Deferred/pensioners

Windup:

Fund:

Comments:

Name: Richard
Lloyd Group

Location:

Employees/Deferred/pensioners

Windup:

Fund:

Comments:

Name: Richards
Textiles Plc

Location: Aberdeen

Textiles

Employees/Deferred/379
pensioners 1340
members (March 2002)

Windup:

Fund:

Comments: It is believed that some of those affected paid into the 200-year-old company's pension scheme for up to
30 years. Liquidators were called in
November 2004 after a series of financial disasters. It
is thought the firm's pension scheme, will pay out just a third of what is
owed and that pensioners and prospective pensioners will have to rely on
the Government's Financial Assistance Scheme (FAS) to top this up.

Many workers only learned they had lost their jobs after their final wages failed to be paid into their bank accounts.

Name: Rigid
Group Works Pension Fund

Location:

Employees/Deferred/pensioners

Windup:

Fund:

Comments:

Name: Riverwood
International

Location:

Employees/Deferred/pensioners

Windup:

Fund:

Comments:

Name: R K
Timber subsidiary of Raab
Karcher

Location:HO South Langworthy Road Salford

Employees 500/Deferred
250/pensioners 250

Windup:

Fund:

Comments:
Information given by a member of the scheme

The
events so far are that OPRA have looked at the scheme and said that the
company have not acted illegally because the protection was not at the
time in place.

R
K Timber was sold in 1998 (to be confirmed) to J P Corry of Springfield
Road Belfast. This was a large group of timber and builders
merchants in the UK. At the time the scheme was at 135% mfr and
the new owners took a holiday!

Over
the next couple of years JPC sold off most of the companies
including my own and left only one operational with around 10 employees.
All members were told in 2003 or 04 that the scheme was being wound up
because it was under funded. We were given a compromise agreement
and told that if we did not accept this then the company would go into
liquidation and we would get even less since J P C would pump a certain
amount of money[ £1.2m] into the scheme to help members. We
were not told at that stage that all the money J P C were putting in
would go to existing pensioners which was their legal requirement
anyway. We were given wrong information all round we were told in
the letter that there was little chance that the company would still be
trading if it was left until the deadline which would have brought it
into the government guarantee. Not true once the compromise was
accepted the company started to expand again and took into it's own
pension scheme in Belfast the now existing R K Timber employees.

To
add insult to injury the majority of ex trustees of the pension scheme,
mostly the execs [not JPC] and none of whom were at retirement
age took their pension pots when they left the company while we less
important deferred members were being told the scheme was safe.

Employees/Deferred/pensioners
119,054 active, current, and deferred members
across the three schemes

Windup: Planning
to close to new employees

Fund:

Comments:
April 2006 - Rolls-Royce are offering to pump £500m into pension fund
in return for closing final salary schemes to new members. The
jet engines maker said it had started a round of consultations with its
three UK pension funds in order to address the groupís total reported
pension deficit, which stood at £1.3 billion in December 2005. Rolls will
also increase the level of contributions as part of attempts to reduce the
shortfall. One scheme has been closed to new employees since 1999.

May
2007: All UK defined-benefit schemes have been closed to new
employees, with effect from 1 April 2007 and replaced by a
defined-contribution scheme. As part of the discussions, Rolls-Royce
agreed to inject a total of 500 mln stg into its UK pension fund, the
majority of which is subject to agreement with the trustees on changes in
investment strategy.The group will
increase the lump sum employees can take on retirement, in line with
changes in HM Revenue & Customs practice, and will apply a 2 pct
discretionary increase to pensions that do not benefit from any guaranteed
increase, it said.These changes will
account for approximately 140 mln stg of the cash injection, and will be
recorded as a one-off charge in 2007, the remaining 360 mln stg will be
used to reduce the group's UK pension scheme deficit, which stood at 665
mln stg at the end of 2006.

Name: Roxspur
Measurement and Control.

Location:Based
in Sheffield

Employees/Deferred/pensioners

Windup: Scheme
into wind up July 2001.

Fund:

Comments:

Name: Royal
Bank of Scotland

Location:

Employees/Deferred/pensioners
60,000

Windup: Proposed
changes to final salary scheme

Fund:

Comments: August
2009:RBS announced a series of proposed changes to its main
final salary pension schemes, including capping the amount of salary
increases that is pensionable to 2 per cent annually or the rate of
inflation, whichever is lower, and reducing the lump sum payable on early
retirement.

Name: Royal
College of Nursing

Location:

Employees/Deferred/pensioners

Windup: Proposed
closure of finals salary scheme Dec 2006

Fund:

Comments: RCN
management have told staff that despite securing a final salary scheme for
nurses in the NHS they will have to accept a defined contribution scheme
which means paying more and working longer for the same pension. The RCN
Council have proposed an inferior replacement scheme which immediately
sees the RCN paying 4.6% less pension contributions and puts all the
investment risk on to the shoulders of RCN staff.

Talks on the futures of the final pension
scheme continue between GMB and the RCN.

Name: Royal
London

Location: Assurance

Employees/Deferred/pensioners

Windup: closed
to new employees

Fund:

Comments: Royal London
has closed its scheme to new members. New employees of the company will now be offered a defined contribution pension arrangement instead.

Royal London is one of the first specialist companies to close its scheme to new members. Although many large businesses have closed their final salary schemes, pension firms have tended to keep their's open.

From the beginning of September 2005 new employees will have the choice of contributing between 2.5% and 4% of their salary. The company will
double the amount paid in by employees.

They will also be paid £200 towards the cost of discussing their pension options with an independent financial adviser.

Name: Royal
Mail

Location:

Employees/Deferred/pensioners:
190,000 workers, with around 167,000 paying into the pension
scheme.

Windup: planned
to close Final Salary Scheme to new staff

Fund:

Comments:
December 2008 Royal Mail's
pensions 'black hole' has more than doubled to some £7bn, placing a
'ticking timebomb' under the country's most cherished state-owned
industry. Feb 2007:A pension black hole at the
Royal Mail has led to a huge fall in the company's profits.Earnings
tumbled to £22m between April and September compared with £159m for the
same time on the previous year - a drop of 86%.Meanwhile,
the shortfall in pensions has risen by £1bn to £6.6bn in the past year;
the Royal Mail says it is now closing its final salary pension scheme for
new staff.It will be replaced by a
scheme to which employees contribute.

Name: Royal
Opera House

Location:

Employees/Deferred/pensioners

Windup: Company
still solvent

Fund:

Comments: Nov
2006: The scheme's deficit has risen to more than £8m and one option is
to close it to both existing and new members. A
recent letter to employees said if no action was taken the ROH would have
to increase its contributions from 15% of staff salaries to 26%. A
second option is to close the scheme to new staff and restrict the
build-up of benefits for current members. The opera house management is
currently consulting with staff and their trade union BECTU and says it
would prefer not to close the scheme to its current members. May
2007:Staff at the Royal Opera
House in London have voted to accept the closure of their pension scheme
to new joiners and to pay higher contributions.Members
of the trade union Bectu voted by 89% in favour of the deal.Last
November the ROH management warned that the scheme might have to close
altogether because of a deficit of £8m.Members
are now paying 8% contributions instead of 6%, while future promotions
will no longer count towards their final salary pension.

The information on this website has been supplied
by members of the various final salary schemes listed and others. Accuracy
is important to us, but errors are inevitable as the subject itself is an
extremely emotive one so the information on this site cannot be guaranteed. We hope that we have reflected the current situation in
as an unbiased way as possible.